This paper investigates a two-factor affine model for the credit spreads on corporate bonds. The first factor can be interpreted as the level of the spread and the second factor is the volatility of the spread. The riskless interest rate is modeled using a standard two-factor affine model, thus...

Purpose – The late 2000s Great Recession led to a surge of bank failures in the USA with nearly 300 banks failing from 2009 to 2010. Recalling the farm crises of the 1980s where the farm sector was pinpointed as one of the major precursors of such crises, this study is an attempt to validate...

Purpose – The paper aims to discuss whether the younger generation of China's rural labor force is prepared, in terms of education level or labor quality, for the future labor markets under China's industrial upgrading. Design/methodology/approach – Using nationally representative survey...

Purpose: The value of online reviews has been well documented by academics and practitioners. However, to maximise the benefits of consumer reviews, online sellers must avoid the negative consequences associated with customer feedback, such as reputation loss, or product returns after purchase....

Purpose: This paper aims to demonstrate both the positive and negative effects of loyalty programs. The study proposes a model to demonstrate why and how loyalty program strategies can result in good customer relationships and customer entitlement behaviors. Various configurations of three...

Purpose – The late 2000s Great Recession led to a surge of bank failures in the USA with nearly 300 banks failing from 2009 to 2010. Recalling the farm crises of the 1980s where the farm sector was pinpointed as one of the major precursors of such crises, this study is an attempt to validate...